A mixed-use project in an affluent Atlanta suburb would add townhouses to a region where they're gaining in popularity.
The Atlantic Cos. announced plans to build Hillrose Market in downtown Roswell, Georgia. The 7-acre site, adjacent to City Hall, would connect to the city's historic district.
The walkable project would include for-sale brownstones, apartments, a six-building office building and a 75,000-square-foot retail village. In addition, Hillrose Market said it plans to redevelop the former Roswell Police Department into a mixed-use hub with ground-floor retail and a second-floor workspace.
Housing markets in Atlanta and across the county have slowed recently as more owners list properties for sale. Homebuilders are cutting prices and offering incentives to reach prospective buyers concerned about elevated mortgage rates.
Still, consumers increasingly want suburban housing that offers the benefits of an urban lifestyle, according to homebuilder Empire Communities.
Empire is building townhouses at Medley, a 43-acre, mixed-use project in Johns Creek, Georgia, another affluent Atlanta suburb in north Fulton County. Toro Development Group announced its plans for the Medley project earlier this year.
Roswell, some 25 miles north of Atlanta along the Chattahoochee River, has a population of about 91,000 residents, according to Homes.com.
The city draws families and other homebuyers for its top-rated schools, strong community engagement and an active roster of festivals and other events, according to Madelyn Bearn, director of market analytics for Homes.com.
"It's tree-lined neighborhoods and abundant green spaces create a peaceful, suburban feel while still being conveniently close to Atlanta," she said.
Hillrose Market construction is scheduled to begin next year, with completion of the first phases anticipated in 2027.
“This project reflects what we believe is the future of community development — partnership between city leadership and private firms to create places that feel rooted in and in service to their local communities for the long term,” said Jim Meyer, managing partner of The Atlantic Cos. of Atlanta, in a statement.